Public Service Enterprise Group Inc. (PEG) Price Target Increased to $50.00 by Analysts at Barclays PLC
Public Service Enterprise Group Inc. (NYSE:PEG) had its price objective raised by stock analysts at Barclays PLC from $47.00 to $50.00 in a note issued to investors on Thursday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s target price suggests a potential upside of 14.60% from the company’s current price.
PEG has been the subject of several other research reports. Bank of America Corp. cut Public Service Enterprise Group from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $46.00 to $41.00 in a research note on Tuesday, June 7th. Morgan Stanley upgraded Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $43.00 to $47.00 in a research note on Wednesday, July 13th. Argus cut their price objective on Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank AG reiterated a “hold” rating and issued a $47.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, June 15th. Finally, Zacks Investment Research cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.75.
Public Service Enterprise Group (NYSE:PEG) opened at 43.63 on Thursday. Public Service Enterprise Group has a 12 month low of $36.80 and a 12 month high of $47.41. The firm has a market cap of $22.07 billion, a PE ratio of 15.75 and a beta of 0.24. The stock’s 50 day moving average is $43.14 and its 200 day moving average is $44.92.
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Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Friday, July 29th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Public Service Enterprise Group had a return on equity of 10.71% and a net margin of 14.82%. During the same period in the previous year, the firm posted $0.57 EPS. On average, equities analysts forecast that Public Service Enterprise Group will post $2.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Wednesday, September 7th. Public Service Enterprise Group’s dividend payout ratio is currently 59.21%.
In related news, COO William Levis sold 7,500 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $43.73, for a total transaction of $327,975.00. Following the sale, the chief operating officer now owns 156,671 shares of the company’s stock, valued at $6,851,222.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph Izzo sold 43,313 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $46.40, for a total value of $2,009,723.20. Following the sale, the chief executive officer now directly owns 717,755 shares in the company, valued at approximately $33,303,832. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Bowling Portfolio Management LLC raised its stake in Public Service Enterprise Group by 27.3% in the first quarter. Bowling Portfolio Management LLC now owns 70,782 shares of the company’s stock worth $3,337,000 after buying an additional 15,177 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its stake in shares of Public Service Enterprise Group by 10.6% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 7,298 shares of the company’s stock worth $344,000 after buying an additional 700 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Public Service Enterprise Group by 26.8% in the first quarter. IFP Advisors Inc now owns 23,068 shares of the company’s stock worth $1,087,000 after buying an additional 4,869 shares during the last quarter. American Economic Planning Group Inc. ADV raised its stake in shares of Public Service Enterprise Group by 1.0% in the first quarter. American Economic Planning Group Inc. ADV now owns 7,945 shares of the company’s stock worth $375,000 after buying an additional 79 shares during the last quarter. Finally, Virginia Retirement System acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $29,255,000. 66.37% of the stock is currently owned by institutional investors and hedge funds.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).
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